With the government stepping in on Sunday to rescue Fannie Mae
and Freddie Mac
, the spotlight now turns to the fund firms that stocked up the most on those mortgage lenders' stock in the second quarter. Bloomberg
reports that Fidelity
, Wellington Management
and Dodge & Cox
loaded up the most on Fannie Mae in the April to June period, and Wellington was the largest buyer of Freddie Mac stock on a net basis among its peers in the fund world.
Fannie Mae and Freddie Mac shed more than 80 percent of their value this year. The two firms' common stock lost $18.9 billion in market value since end-June.
Stay ahead of the news ... Sign up for our email alerts now